He says he needs more information to convince his board to approve the company's capital works budget at the annual general meeting next month.

"[It's] going to be difficult for me to answer those questions if we haven't got some clarity on what it actually means to the way we operate.," he said.

"If we delay projects that means we don't spend money in the local community.

"We need to construct a new tails dam over the next couple of years, we need to start work on that by mid-this year.

"We've got equipment to replace and we've also got some major capital projects and the board is likely to defer that and say, until we're sure what all of this means, we're not going to take the risk on letting you spend that capital."

The Minerals Council is expected to raise the issue in its submission to the inquiry.

The Opposition's forestry spokesman Peter Gutwein says he is not surprised the deal could affect mining investment.

"It's very disappointing, but it's understandable," he said.

"What this Government are doing is creating uncertainty right across the economy, we need every industry sector to be working as best it possibly can."

The mining industry is also concerned about the planned extension of Tasmania's World Heritage Area.

The Federal Environment Minister, Tony Burke, has to make the nomination within weeks.

Amendment doubts

One of the industry signatories to the deal has told Upper House MPs to reject amendments to the deal's enacting legislation.

The State Government's amendments are outlined in a 158-page document.

The Forestry Industries Association's chief executive Terry Edwards has told MLCs the amendments mean the forests would be protected when the legislation is enacted, before signatories can assess whether the deal will end the conflict.

"That durability report is now physically impossible to achieve," he said.